Photo: Unhindered by Talent
House prices can be sensitive things, buffeted and knocked about by everything from their location to their condition. But did you know your street name can determine your home’s value?
New research by Zoopla reveals that there is a striking correlation between street names and house prices in the UK. The study found that properties located on a “Warren” tend to be the most expensive, with homes worth £607,267, compared to a common “street”, where prices stand at £184,722.
The second most expensive addresses are found on a “Chase”, where property values average £482,867. They are followed by homes on a “Mount”, where typical prices average £390,500.
Those on “Court”s or “Terrace”s rank at the bottom of the heap, alongside those on “Street”s, with average values of £194,172 and £194,403 respectively.
Next time you are house-hunting, therefore, pay attention to the name of the street your desired property is on: it can give you a clue as to what kind of budget you will need to make a purchase.
“Where a ‘Warren’ might appeal for those looking for exclusivity, ‘Streets’, ‘Courts’ and ‘Terraces’ could offer more affordable options,” comments Zoopla’s Lawrence Hall.Google+